The venture capital fund, led by Beatrice Gonzalez (daughter of the president of BBVA, Francisco González) and Michael Kleindl (German investor based in Spain) has sold its stake in Nlocalthe division of Plenummedia specialized in digital marketing for SMEs. The purchasing company is Publicar Publicidad Multimedia, a multinational dedicated to advertising and multimedia solutions with a presence in nine Latin American countries. Seaya Ventures’ investment in Plenummedia had been 5 million euros in 2013.
Seaya Ventures, one of the largest venture capital groups in Spain, is in the process of raising its second background. The first closed at 57 million in 2014 with investments such as , or Restalo. “The second will be much bigger”, assures Kleindl, who points out that “in the first fund they have money left over to continue contributing resources to the companies that they already have in their portfolio”.
For its part, it is a technological platform of the Plenummedia group with a presence in Spain, Mexico, the Dominican Republic, Colombia, Chile and Peru. It has a portfolio of more than 5,000 clients made up of SMEs, to whom it provides digital marketing services. In addition, it is an automated tool for the construction of web pages, and that includes call tracking and generation reports. .
Plenummedia directs its efforts to Relevant Traffic
The Plenummedia holding company, which included Nlocal and Relevant Traffic (digital transformation and marketing consultancy) will now concentrate its activities in this last business unit, working hand in hand with large Spanish and Mexican companies. Relevant Traffic helps its clients in all phases of the value chain (SEO, SEM, analytics, creativity, technology, online reputation, e-commerce, etc.).
As the company has explained in the short term Plenummedia Group will become Relevant Traffic Holding“one of the fastest growing companies in its sector in Spain”, Kleindl explains. Its growth forecasts for this year are 60% both in turnover and Ebitda. Among his clients he has LG, Bankia, Aena, Barceló and Pullmantur. Its current executive director, Julián García, has been appointed CEO and among its objectives is the opening of new offices in Latin America in the short term.
It is revealed that the operation will reach double digits
Various sources reveal that the operation will reach a double-digit figure (several million agreed and a variable depending on the results that Publish achieves with the acquired platform). Seaya Ventures had about 30% of the holding company (stake it maintains in Relevant Traffic).
Post will incorporate the activities of Nlocal in the 9 markets in which it already has a presence (Colombia, Ecuador, Panama, Nicaragua, El Salvador, Guatemala, Chile, Peru and Argentina) and will offer its services to its entire customer base made up of more than 200,000 SMEs. Also, the CEO of Plenummedia, Juan Santanawill join Publish as its new CEO.
According to Kleindl, the reason for the sale is twofold. “We realized that with our resources it would take a long time to reach an interesting critical mass for this business, and on the other hand, Publicar was interested in buying Nlocal because it allowed them to get an automated platform and scale their operations to compete with Facebook and Google”
Stay informed of the most relevant news on our news channel